(1) An insurable interest shall be deemed to be had by—
(a) a parent of a child under 18 years of age or a person in loco parentis to such a child, in the life of the child;
(b) a husband, in the life of his wife;
(c) a wife, in the life of her husband;
(d) any person, in the life of another upon whom he or she is wholly or in part dependent for support or education;
(e) a company or other person, in the life of an officer or employee thereof; and
(f) a person who has a pecuniary interest in the duration of the life of another person, in the life of that person.
(2) This section shall not be construed as in any way limiting or restricting the meaning of insurable interest as understood on the coming into force of this Act.